SFVBJ Current Edition | San Fernando Valley Business Journal

L.A. Program May Violate Privacy

Whether it’s the 405 Freeway from the San Fernando Valley past LAX continuing down to Long Beach, the 5 Freeway through Burbank and into the heart of Los Angeles, or any other traffic corridor connecting the Valley to the surrounding centers of commerce, normally you’re guaranteed to face some of the worst traffic congestion in the country.

Now Is Time for State to Be Flexible

I don’t think any of us truly believed we would be living through this unimaginable time.

AROUND THE VALLEYS

News and notes from the greater San Fernando Valley

Multifamily Muddle

RESIDENTIAL: Landlords say new rules promote lawsuits and non-payment of rent.

Since March, the state of California has sought to protect residential tenants from landlord abuse by imposing moratoriums on rent hikes and evictions as they navigate the coronavirus crisis.

Bring on the Units

DEVELOPMENT: Reseda and Canoga Park enjoy surge of apartment building.

The bedroom communities of Canoga Park and Reseda may seem sleepy by comparison to North Hollywood or Woodland Hills, yet there is more going on than meets the eye in these Valley neighborhoods, with new commercial and residential developments, purchases and overhauls in recent months.

Near-Record Multifamily Purchase

Ventura County apartments trade for $92 million.

The Artisan at East Village in Oxnard has sold for $92 million, or $339,154 per unit, in one of the highest payouts ever for a Ventura County commercial property, according to CoStar Group.

Escrow Closes on New Needham Ranch Land

Trammell Crow, Clarion advance on second phase of buildout for industrial park in Santa Clarita Valley.

Trammell Crow and Clarion Partners announced mid-May that they are in the throes of closing escrow on a 137-acre piece of real estate at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.

Landsea Sells More Houses During Crisis

Developer moves inventory in Chatsworth and Simi Valley.

Landsea Homes continues to make waves in the Southern California residential real estate market with three more houses sold in Chatsworth.

People Have Had Their Confidence Shattered

Kevin Bernzott founded his namesake firm in 1994. He and a team of 10 employees manage accounts with a minimum of $10 million for institutional clients. Previously chief executive of McGaelic Group, a multi-generational family investment office in Oxnard, he focused on real estate development and asset management. Bernzott earned a doctorate in law from the University of West Los Angeles.

We’ve Never Seen Anything Close to This

Charlie Isaacs and Dave Paller have a combined 65 years of serving the financial needs of clients who typically have $1 million or more in investment capital. Isaacs, who lives in Sherman Oaks, began his career in 1986 with EF Hutton and later spent more than 20 years with Smith Barney and another 11 years with UBS Financial Services before partnering with Paller for Raymond James Financial. Paller is a native of Phoenix who worked for 11 years at UBS Financial before joining Raymond James this year. Both men have the title senior vice president of investments.

Meet Your Clients on Their Emotional Level

Kevin Rex is a wealth advisor and a partner at Morton Capital Management, a Calabasas firm where clients have invested on average $2 million. Rex plays an integral role on Morton’s advisory, investment and financial planning teams, with a specialization in the life insurance sector. He is a Certified Financial Planner and joined the company in 2015. He resides in Oak Park with his wife, Nicole, and their three children.

Slowdowns Are Not Typically Self-Induced

After 23 years of financial management experience, Jason Sands has hollowed out a niche consulting for wealthy West Valley families – his clients have a net worth of $5 million or more and at least $1 million in liquid investable assets. Sands started his career in 1994 as a finance executive at Henson Aviation Services Inc. in Newbury Park. He left in 1997 to join Merrill Lynch as a financial consultant, where he spent three years before becoming an advisor at Wells Fargo Advisors in Encino. He stayed there for nearly 20 years. Sands joined Ameriprise Financial Services in Woodland Hills in March 2019.

Our Call Volume Increased by 100 Percent

Louie Valdez, managing director of investments at Valdez & Polanski Wealth Management Group of Wells Fargo Advisor, has worked in finance for 28 years. His team specializes in providing comprehensive wealth management to affluent families in the Conejo Valley. Valdez, himself a Conejo Valley native, graduated from California State University – Northridge in finance and economics. He later bolstered his credentials by becoming a Certified Financial Planner and earning a master’s degree in personal financial planning. He is currently co-chair of the California State University – Channel Islands Planned Giving Council and the nonprofit Senior Concerns of Thousand Oaks. He also served as chairman of the Moorpark Foundation for the Arts. In 2016, Valdez was a recipient of the San Fernando Valley Business Journal’s Trusted Advisor Award. Valdez has been married to his wife, Tina, for over 25 years and has two children, Anthony and Alexis.

Bear Markets Have Three Phases

Prior to founding Manchester Financial in 1990, Robert Katch was associate treasurer at Pepperdine University in Malibu. He was responsible for the university’s corporate finance function including cash and debt management, as well as the institution’s $250 million investment portfolio. From 1991 through 2003, Katch also served as an adjunct professor at Pepperdine, where he taught investment, accounting and finance courses. He currently serves on the board for Pepperdine’s Seaver College and chairs the investment committee for the Ventura County Community Foundation’s endowment portfolio.

Task Force On Industry’s Recovery

Safety a concern when film and TV production resumes.

The Hollywood Professional Association announced early this month the formation of the Industry Recovery Task Force.

Cinedigm Likes Humor and Action

Sherman Oaks firm signs distribution deal for movies.

Cinedigm Corp. announced this month that it had acquired the rights to distribute crime thriller “Devil’s Night: Dawn of the Nain Rouge” and the action comedy “All for Nikki.”

Sports Academy Rebrands Without the Mamba

Training facility separates from Bryant family.

Mamba Sports Academy has dropped the “Mamba” from its name and rebranded as Sports Academy four months after celebrity partner Kobe Bryant died in a helicopter crash in the hills of Calabasas.

National Chains Succumb to the Coronavirus

Neiman Marcus’ Chapter 11 and Souplantation closure.

Safe Picket On Proposed Benefit Cuts

Workers protest outside Prime hospital in Encino.

Staff picketed outside Encino Hospital Medical Center, a subsidiary of Prime Healthcare Services, earlier this month to oppose the hospital chain’s attempt to cut sick time and disability in the middle of the COVID-19 pandemic.

Summit Highlights Valley Telehealth Firms

Distant medicine seen as smart upgrade in pandemic.

The Southern California Biomedical Council held its Coronavirus Digital Solutions Summit on May 14, featuring speakers from four biotech companies in the San Fernando Valley: iKioo, Aligned Telehealth, SnapMD, and Eyenuk.

Ex-Director At Lief Labs Now CFO

Strategist Helder Guimarães joins supplement maker.

Dietary supplement manufacturer Lief Labs has brought on one of its former board members to serve as chief financial officer, the Valencia company announced May 18.

High-Low Pot Sales

RETAIL: Challenges and opportunities emerge for cannabis sellers in the coronavirus crisis.

To hear David Albanese tell it, the coronavirus outbreak has been good for the cannabis industry.

Attorney Overdrive

LAW: Employment lawyers put in 14-hour days to keep up with client questions, changing rules.

Since the start of the pandemic, employment lawyers have shifted into overdrive –and except for a week or so toward the end of April, have not seen a slowdown.

Nimble ASGN Thrives Despite Job Market Chaos

STAFFING: Federal contracts, IT work buoy company through crisis.

A solid first quarter and several major government contracts will help ASGN Inc. weather the Coronavirus storm.